These blinks [flashes] are fault indication (Error Codes). From the number of blinks occur at one time switch ON, you can get an idea about the faulty circuit section inside it. This will make repair easy. These are called blinking codes. Make sure about the exact number of blinking of the standby/power LED, by switching On & OFF the set, for at least two times. Count it carefully. If you wish to get some details, check the site linked here. It has details about blinking codes, and fault locating procedure, to many popular brand TVs and other devices. http://electronicshelponline.blogspot.com/
SOURCE: Panasonic plasma 50PZ85 power led blink 10 times
Either a bad power supply or a bad processor board.
A Good Service Shop should know what the 10 blinks are indicating.
May be a repair cost between $200 and 400 dollars.
Be prepared -
Blessings,
A/V Media Guy
SOURCE: I have a Panasonic 42"/46"/50" Class 1080p Plasma
This usually is a result of a failing power supply or any of the SOS circuit boards. Power supply's and boards are expensive to replace and in most cases not worth the cost to have repaired if you are out of warranty. However this is a known issue for Panasonic and I have seem them repair your model sets at no cost. So it is worth giving Panasonic a call and see if they will fix this for you. If they agree to fix it they will send a tech to your home for repairs.
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